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Old 05-08-2018, 07:02 PM
 
Location: Raleigh NC
7,766 posts, read 6,123,712 times
Reputation: 6893

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Quote:
Originally Posted by photogal9 View Post
Interesting article pertaining to the OP:

https://realestate.usnews.com/real-e...onal-brokerage
As I am truly open to honest discussion,I read the entire article, but here's her lead-in:


Quote:
The time has come for you to buy a house, and you know to follow conventional wisdom and seek out a real estate professional you can trust. But when you go to round up referrals from friends, you find that everyone reports they wouldn’t actually recommend their previous agent.
every study ever done has shown that buyers would recommend their agent at a 75%+ level.

Look, the internet has caused every media publication to require new material from their online contributors every day or few days. This young lady, who graduated from college a mere 6 years ago,is not likely to have been trough the process of buying/selling multiple times, if even once.

She found the largest "tech-forward" entity (Redfin) and quickly proclaimed its ubiquity - while there are more 200K+ MSA's that DON'T have Redfin brokerages than do - and 2 outfits that have never been heard of and aren't doing anything remarkable.

Just as a Seller is free to choose a service model that works for them, buyers are free to sit down with a qualified agent and negotiate service and compensation.
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Old 05-08-2018, 07:05 PM
 
Location: Raleigh NC
7,766 posts, read 6,123,712 times
Reputation: 6893
Quote:
Originally Posted by Silverfall View Post
If I was going to pick one thing that would disrupt the real estate industry, it would be making agents employees and not independent contractors. If that was the case you would see a massive, massive shift in the industry.
what would you need your salary and benefits package to be to become an employee?
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Old 05-09-2018, 10:07 AM
 
Location: Salem, OR
13,743 posts, read 31,570,576 times
Reputation: 12105
Quote:
Originally Posted by BoBromhal View Post
what would you need your salary and benefits package to be to become an employee?
Well, I own my brokerage so that is a moot question, but the reason I say that is because we would lose about 75% of real estate agents very quickly because employers that can do math would have to eliminate those minimally involved agents from their company. No one would hire the agent that sells one home a year if they have to pay them an hourly or monthly salary. They would not be worth the paperwork headache. Doing payroll for the two transaction agent? Not going to happen.

Brokerages would also invest more training in rookies, screen them better, and likely have more successful agents as a result. If you are paying someone's salary, you are going to make sure you get the up and running quickly so that they could contribute.
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Old 05-09-2018, 10:54 AM
 
Location: Columbia, SC
8,848 posts, read 17,447,111 times
Reputation: 6202
Quote:
Originally Posted by BoBromhal View Post
what would you need your salary and benefits package to be to become an employee?
Good question. What I would depend on my schedule and benefits. If I'm an employee I want more fixed hours which would include limited nights and weekends.
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Old 05-09-2018, 10:59 AM
 
Location: Cary, NC
31,611 posts, read 55,335,524 times
Reputation: 30164
Quote:
Originally Posted by Silverfall View Post
Well, I own my brokerage so that is a moot question, but the reason I say that is because we would lose about 75% of real estate agents very quickly because employers that can do math would have to eliminate those minimally involved agents from their company. No one would hire the agent that sells one home a year if they have to pay them an hourly or monthly salary. They would not be worth the paperwork headache. Doing payroll for the two transaction agent? Not going to happen.

Brokerages would also invest more training in rookies, screen them better, and likely have more successful agents as a result. If you are paying someone's salary, you are going to make sure you get the up and running quickly so that they could contribute.
There are ample service models for part time employees that could be modified to work.
We could see the rise of billable hours, collections as employee responsibility, minimum wage rate draws against commission, and "bold innovation" in manipulations of employment law by brokers to minimize exposure to excessive costs.
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Old 05-09-2018, 01:52 PM
 
Location: Salem, OR
13,743 posts, read 31,570,576 times
Reputation: 12105
Quote:
Originally Posted by MikeJaquish View Post
There are ample service models for part time employees that could be modified to work.
We could see the rise of billable hours, collections as employee responsibility, minimum wage rate draws against commission, and "bold innovation" in manipulations of employment law by brokers to minimize exposure to excessive costs.
Sure you could have productive part-timers. Especially agents that are in the retiring phase of their career.
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Old 05-09-2018, 02:07 PM
 
Location: Rochester, WA
3,832 posts, read 2,056,232 times
Reputation: 10577
Quote:
Originally Posted by Brandon Hoffman View Post
Good question. What I would depend on my schedule and benefits. If I'm an employee I want more fixed hours which would include limited nights and weekends.

Fixed hours? Oh I hope that never happens. I went into this so I didn't have to live by an alarm clock every day. I just have a life, and fit my work into it.
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Old 05-09-2018, 02:12 PM
 
Location: Columbia, SC
8,848 posts, read 17,447,111 times
Reputation: 6202
Quote:
Originally Posted by Diana Holbrook View Post
Fixed hours? Oh I hope that never happens. I went into this so I didn't have to live by an alarm clock every day. I just have a life, and fit my work into it.
You're right. I probably wouldn't want "fixed" hours either in retrospect.
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Old 05-09-2018, 04:34 PM
 
Location: Salem, OR
13,743 posts, read 31,570,576 times
Reputation: 12105
You can be salaried and pick your own schedule. That part wouldn't have to change you would just have to work a certain number of hours or they would pay your hourly.
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Old 05-09-2018, 05:35 PM
 
4,480 posts, read 7,942,875 times
Reputation: 6404
Real estate transactions are too damn complicated. Too many crazy variables that come up before closing and require negotiations to work things out or walk away. No artificial intelligence can account for that or the unpredictable minds of human nature.

Houses are not like car, widgets, or anything else. Deeds, easements, rights of way, liens, HOA, access, encroachments, leases, minteral interests, taxes, personal property, covenants, special tax districs, water, sewer, septic, well, survey, insurance, utilities, historical, etc, etc.
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